A PORTHMADOG mortgage broker says the county’s “onerous planning regulations” are making it impossible for first-time buyers to obtain a mortgage.

Jim Kelly, an independent mortgage broker, has described the situation as “scandalous” and says the section 106 agreements, which are being imposed on new builds by authorities such as Snowdonia Nat­ional Park and Gwynedd Council, reduce the value of the property by up to a third and make it impossible to obtain mortgage finance.

Mr Kelly says first-time buyers and home movers are unable to apply for the 20 per cent equity loan und­er the Welsh Government’s Help to Buy scheme, which has two different schemes available, because Help to Buy Wales will not accept new build houses with section 106 agreements.

Mr Kelly said: “In Gwynedd, alt­hough developers and building firms are eager to build new properties, they are restricted by onerous planning regulations being imposed by planning authorities who are imposing draconian and restrictive planning obligations on new-build properties."